Australia must shift funding away from universities to TAFE

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New research from the Centre for Future Work highlights the economic contribution of Australia’s Technical and Further Education institutions.

It has estimated that the TAFE system generates more than $6 billion in direct economic activity each year, while its total annual economic benefit is $92.5 billion. This equates to 4.5% of Australia’s GDP.

The Centre for Future Work has urged the federal government to increase the proportion of public funding for vocational and educational training that is allocated to the TAFE system:

Training will play a vital role in reorienting the economy after the pandemic…

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.